Harbor Investment Advisory LLC Raises Holdings in Blackstone Inc. (NYSE:BX)

Harbor Investment Advisory LLC increased its holdings in shares of Blackstone Inc. (NYSE:BX) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,014 shares of the asset manager’s stock after acquiring an additional 587 shares during the period. Harbor Investment Advisory LLC’s holdings in Blackstone were worth $6,727,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Blackstone by 1.2% in the 3rd quarter. State Street Corp now owns 30,020,426 shares of the asset manager’s stock worth $4,597,028,000 after acquiring an additional 348,751 shares during the period. Geode Capital Management LLC increased its position in shares of Blackstone by 2.3% in the third quarter. Geode Capital Management LLC now owns 14,896,413 shares of the asset manager’s stock valued at $2,272,227,000 after buying an additional 336,308 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Blackstone by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 6,266,207 shares of the asset manager’s stock worth $775,758,000 after buying an additional 141,616 shares in the last quarter. International Assets Investment Management LLC grew its stake in Blackstone by 15,357.3% in the 3rd quarter. International Assets Investment Management LLC now owns 4,201,150 shares of the asset manager’s stock valued at $6,433,220,000 after acquiring an additional 4,173,971 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Blackstone by 1.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,931,411 shares of the asset manager’s stock worth $602,017,000 after acquiring an additional 61,739 shares during the last quarter. Institutional investors and hedge funds own 70.00% of the company’s stock.

Blackstone Price Performance

Blackstone stock opened at $180.00 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $129.96 billion, a P/E ratio of 61.86, a PEG ratio of 1.02 and a beta of 1.53. The firm has a fifty day moving average of $180.73 and a 200-day moving average of $158.74. Blackstone Inc. has a 52-week low of $115.63 and a 52-week high of $200.96.

Insider Buying and Selling at Blackstone

In other news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total value of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at approximately $68,112,883.78. This represents a 9.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. StockNews.com upgraded Blackstone from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company decreased their price objective on Blackstone from $195.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Citigroup upped their target price on shares of Blackstone from $157.00 to $170.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Blackstone from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, UBS Group lifted their target price on shares of Blackstone from $140.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $169.56.

About Blackstone

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.